TOP 10 BEST INSURANCE COMPANIES IN NIGERIA

Here is the list of top ten insurance companies in Nigeria. In case you do not fully know what insurance is all about, lets help you go through it. Insurance is a way of protection from financial loss. It is a form of risk management system used to hedge against the risk of an uncertain loss.An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. Once you purchases insurance from an insurance company you are known as an insured or as a policyholder in the company.

best insurance companies in nigeria

It involves you the insured assuming a guaranteed and known relatively small loss in the form of payment to tyour insurance company in exchange for your insurance company’s promise to compensate you in the occurance of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship.

Once you enter into an insurance contract, you will receive called an insurance policy, which list the conditions and circumstances under which the company will compensate you. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. So once the whole process is sure you will receive a monetary or substantial compensation for the loss.

In Nigeria, there is a lot of insurance companies which makes it even harder to choose. There are a lot of factors that determines the insurance company you are going to choose. Factors like integrity, trust-worthiness, quick response, and reliability have to be considered before signing a contract with such insurers. We will help you outline the best insurance company’s in Nigeria based on.

  • They have a positive history and track record; all great insurance companies have information to support their claim on the nature of policies they offer and why it is best for businesses and individuals.
  • They are known to the public; even in other industries. The reputation of these insurance companies provides patrons with information as to why they should take up policies with their company.
  • the Integrity of these companies precede them, The companies you may want to insure your lives and properties are  of high integrity and reliability.

List of top Insurance Companies in Nigeria

1. AIICO Insurance Plc

AIICO, one of the best insurance company in Nigeria

AIICO known as the American International Insurance Company is an Agency Office of American Life insurance that commenced operation in 1963. Their aim is to offer life assurance and annuity, general insurance, health insurance, pension management, property insurance, E-insurance, Education plan, Mortgage protection plans, Term assurance and so on.

AIICO Head office address: Plot PC 12, Church Gate Street, Victoria Island, Lagos.
AIICO Website: http://www.aiicoplc.com
AIICO Phone: 01 279 2930

2. AXA Mansard Insurance plc

mansard insurance company gt bank

Guaranty Trust Assurance Plc is also rated as one of my best insurance companies in Nigeria. Their foundation is based on trust. Some of the products they offer include Auto insurance which includes; Autoflex plan, Auto Go, Auto Classsic and others. They also have easy care health plan, money market fund, equity income fund, general business and tourism protection, retirement plan inclusive.

Location is at 928A Aboyade Cole Street, Victoria Island, Lagos. 
You can also visit their website via https://www.axamansard.com/
Phone: 08150490199

3. Leadway Assurance Company Limited

leadway assurance company nigeria

 

This one of the best insurance company in the country. It also provides integrated insurance and financial services to customers was founded by sir (Dr) Hassan Olusola Odukale and it started operation in 1971. Leadway assurance management team are simply the best in the industry. They are very skilled and efficient.

Leadway Assurance products includes;

General insurance, Life and Health Insurance, Savings and Investment Plan, Annuities and Pensions, Premium Finance, Leadway BOSS, Marine Insurance, Surety-ship, Agric Insurance, Motor Insurance, Property Insurance, Marine Insurance and Finally, Accident Insurance. The contact address of lead way assurance

Leadway is located at 121/123 Funso Williams Avenue Iponri, Lagos. 
Visit leadway website for more information on http://www.leadway.com
Phone: 01-2700700

4. Mutual Benefits Assurance Plc

mutual benefit insurance company

Another top insurance company in nigeria. It that started operation on 18th April 1995 is Mutual Benefits Assurance Plc. mutual benefits life assurance products includes pure lifew insurance, investment linked schemes like children education plans and pure investment . Others insurance products of mutual benefits assurance plc includes motor, marine, fire & periles, travel e.t.c.

mutual benefit assurance head office address: Aret Adams House, 233 Ikorodu Road,
Ilupeju, Victoria Island Lagos.
Website: http://www.mbaplc.com
Phone: 09054644444, 09054744444

5. Cornerstone Insurance PLC

cornerstone insurance company

cornerstone insurance plc was incorporated on 26th July 1991 with registration number RC163170. The company is licensed and re-certified by the National Insurance Commission (NAICOM) to offer both general and life insurance. cornerstone insurance plc management team is another one that we can boast of with excellent service delivery.

This insurance company in Nigeria has received many award based on the level of professionalism. cornerstone insurance plc products include: Motor insurance, Travel insurance, Home insurance, Life insurance, Annuity, Goods in transit, Combined fire and burglary, Marine Insurance, Mymoto shield, Gadget Inspector Plan, Drone Insurance.

Cornerstone insurance plc head office address: Water Corporation Drive off 
Ligali Ayorinde Street, Victoria Island, Lagos. 
Their website: https//:www.cornerstone.com.ng
Phone: 0810 6000 800

6. Industrial and General Insurance Plc (igi)

Industrial and general insurance plc nigeria

Industrial and General insurance company was first incorporated as a private limited liability insurance company in Nigeria, on 31st October 1991 and in 2007. It was later re-registered as a public limited liability. It started operating as a composite insurance company i.e life insurance and general which includes pensions, special risks in January 1992.

Products include; Motor Insurance, Life products, Engineering/contractor risk, Marine, Travel and Health insurance, Fire Insurance, Aviation, Oil and energy and so on. Industrial and general insurance have subsidiaries and below is their contact and office addres.

Igi office in Lagos: No 2, Agoro odiyan street, off  Adeola Odeku street 
Victoria Island Lagos state. 
Please visit their website for more information via http://www.iginigeria.com 

7. Custodian and Allied Insurance Plc

custodian and allied insurance plc

It is one of the capitalized insurance companies in Nigeria. The company started operation on 13th of August, 1997 and they provide both life and general insurance.Their insurance products include; auto insurance, health, travel, home shield, personal accident and wealth management This insurance company ensures their customers have access to an independent dispute resolution system if you need to file a complaint.

Their address is at 16A, commercial Avenue Sabo,Yaba, Lagos. 
custodian insurance portal online for more info: http:// www.custodianplc.com.ng
Phone: 01 277 4000

8. NEM Insurance Plc

nem insurance plc

Another insurance company in Nigeria is NEM Insurance Plc. This insurance company commenced operation in 1948 through the agency of Edward Turner and CO. This insurance company offers general insurance e.g. Travel insurance, fire insurance, motor insurance and many more.

nem insurance Lagos Office address: 199 Ikorodu Rd, Obanikoro Lagos state 
and you can also visit their website at www.nem-insurance.com.

9. Consolidated Hallmark Insurance Plc

consolidated hallmark insurance plc

Consolidate Hallmark Insurance is also one of the leading insurance companies in Nigeria. This company offers personal insurance to help protect individuals from potential losses e.g motor insurance, gadget insurance, home insurance, business insurance. This Nigerian insurance company has highly competent staffs and also has sufficient funds to fulfill the gratuity needs of their employees at the right time

Address: No 266, Moshood Abiola Way, Obanikoro, Lagos state. 
you can also visit their website for more information via chiplc.com

10. Prestige Insurance Ltd

prestige insurance ltd

Prestige Insurance Ltd was founded in 1988. It is an insurance company in Nigeria that offers insurance and reinsurance. Their services include auto, business, home, life and provision of risks identification management, claim advisory/management and many more. Their excellent provision of service to customers makes this insurance company to be elected as the insurance broker of the year.

They're located at 19, Ligali Ayorinde Street Victoria Island, Marina Lagos. 
Visit their website for information: http://www.prestigeassuranceplc.com

Hope you've seen the top insurance companies in Nigeria , you can choose the one that is most suitable for you.

 

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